Fruth Investment Management Boosts Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Fruth Investment Management grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,300 shares of the mining company’s stock after purchasing an additional 500 shares during the quarter. Fruth Investment Management’s holdings in Agnico Eagle Mines were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its holdings in Agnico Eagle Mines by 0.8% during the 3rd quarter. CIBC Asset Management Inc now owns 3,687,689 shares of the mining company’s stock worth $293,573,000 after acquiring an additional 27,656 shares during the last quarter. FMR LLC raised its stake in shares of Agnico Eagle Mines by 31.5% during the 2nd quarter. FMR LLC now owns 3,343,945 shares of the mining company’s stock worth $214,119,000 after purchasing an additional 801,403 shares during the period. Ninety One UK Ltd raised its stake in shares of Agnico Eagle Mines by 2.6% during the 3rd quarter. Ninety One UK Ltd now owns 2,094,067 shares of the mining company’s stock worth $166,318,000 after purchasing an additional 53,581 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Agnico Eagle Mines by 10.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,960,385 shares of the mining company’s stock worth $152,760,000 after purchasing an additional 183,309 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Agnico Eagle Mines by 7.6% during the 3rd quarter. Toronto Dominion Bank now owns 1,330,789 shares of the mining company’s stock worth $106,027,000 after purchasing an additional 94,264 shares during the period. 61.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on the company. Raymond James set a $95.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Wednesday, January 6th. BMO Capital Markets lifted their target price on Agnico Eagle Mines from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. National Bank Financial reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday. Zacks Investment Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research note on Tuesday, November 24th. Finally, Barclays cut Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $71.00 to $79.00 in a research note on Monday, October 19th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $84.44.

Shares of Agnico Eagle Mines stock opened at $70.10 on Thursday. Agnico Eagle Mines Limited has a 52-week low of $31.00 and a 52-week high of $89.23. The stock’s 50-day simple moving average is $70.36 and its 200 day simple moving average is $74.97. The stock has a market capitalization of $17.04 billion, a P/E ratio of 26.65, a P/E/G ratio of 18.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.04 and a current ratio of 2.37.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Monday, November 2nd. The mining company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.10. Agnico Eagle Mines had a return on equity of 7.22% and a net margin of 21.54%. The firm had revenue of $980.61 million for the quarter. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities research analysts forecast that Agnico Eagle Mines Limited will post 1.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 25th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, November 24th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.20. This represents a $1.40 annualized dividend and a dividend yield of 2.00%. Agnico Eagle Mines’s dividend payout ratio is currently 144.33%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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